PTC Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended

December 31,

December 31,

2022

2021

Cash flows from operating activities:

Net income

$

75,035

$

46,089

Stock-based compensation

41,504

45,942

Depreciation and amortization

21,328

22,088

Amortization of right-of-use lease assets

8,054

8,860

Accounts receivable

105,512

57,316

Accounts payable and accruals

(9,850)

15,812

Deferred revenue

(19,635)

(13,696)

Income taxes

(16,836)

(8,328)

Other

(24,191)

(36,347)

Net cash provided by operating activities

180,921

137,736

Capital expenditures

(9,180)

(3,362)

Purchase of intangible assets

-

(450)

Repurchases of common stock

-

(119,739)

Payments of withholding taxes in connection with vesting of stock-based awards

(52,423)

(49,165)

Settlement of net investment hedges

(10,795)

6,473

Divestitures of businesses and assets, net

(154)

-

Credit facility origination costs

(1,350)

-

Other financing & investing activities

(217)

(239)

Foreign exchange impact on cash

8,616

(1,661)

Net change in cash, cash equivalents, and restricted cash

115,418

(30,407)

Cash, cash equivalents, and restricted cash, beginning of period

272,888

327,046

Cash, cash equivalents, and restricted cash, end of period

$

388,306

$

296,639